Highest Interest Rate on Bank Fixed Deposits (FD) – November 2016

Fixed Deposit Highlights

  • Maximum Investment Amount:   No such limit
  • Interest Rates Variable: from 7 to 9% based on tenure
  • Interest Rates Compounding: Quarterly
  • Interest earned is taxable: Yes
  • Liquidity: Yes
  • Tenure:   7 days to 10 years
  • Income Tax Rebate u/s 80C: Yes upto Rs 1,50,000/- p.a., but on FD with a lock in period of 5 or more years
  • Maturity Value: Taxable
  • Premature Withdrawals: Entire amount, anytime but after charging a certain penalty
  • Loans/Overdraft: overdraft facility upto 90% of the amount in the FD
  • Tax Deduction at Source: Yes at the rate of 10% on interest earned if if it exceeds Rs. 10,000 in one financial year
  • Risk: Risky as compared to PPF
  • Periodic Income: Yes

Higest Interest Rate on Bank Fixed Deposit

The highest interest rate is offered by the Bandhan Bank (for 12 months) at 8.25% per annum and Ratnakar Bank (for 12 months) at 8% per annum followed by The Nainital Bank (for 12 months) at 7.9%.

Bank TenureFD Interest Rate (p.a.)Find Interest RatesCalculate
Jalna Merchants Coop Bank Ltd 12 Months8.50%
Ashoknagar Coop Bank Limited12 Months8.50%
The Chandrapur District Central Cooperative Bank12 Months8.50%
Mizoram Rural Bank12 Months8.25%
Meghalaya Rural Bank12 Months8.25%
The Sangrur Central Cooperative Bank Ltd12 Months8.25%
Kapol Cooperative Bank Limited12 Months8.00%
Sangli Urban Co Op Bank Ltd Sangli12 Months8.00%
The Nainital Bank Limited12 Months7.90%
Bangiya Gramin Vikash Bank12 Months7.75%
Amanath Cooperative Bank Ltd. Bangalore12 Months7.75%
Manipur Rural Bank12 Months7.75%
Rbl Bank Limited12 Months7.75%
Pandyan Grama Bank12 Months7.70%
Bandhan Bank Limited12 Months7.70%
Disclaimer: The Fixed Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD.      Source: Bank Websites

Upcoming Bank Holidays

2017 April 29 is a bank holiday in Karnataka due to Basava Jayanthi.
2017 May 01 is a bank holiday in Andaman And Nicobar Island due to Maharashtra Din/May Day.
2017 May 09 is a bank holiday in Andaman And Nicobar Island due to Birthday Of Rabindranath Tagore.
2017 May 10 is a bank holiday in Chhattisgarh due to Buddha Pournima/Sakewa.

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